Business
Sacks Parente Golf, Inc. Reports Financial Results for First Half 2023 and Provides Corporate Update
Camarillo, CA., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Sacks Parente Golf, Inc. (NASDAQ:SPGC), (the “Company” or “Sacks Parente”), a technology-forward golf
About this update from Newton Golf Company, Inc.
[{"type":"text","content":"Camarillo, CA., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Sacks Parente Golf, Inc. (NASDAQ:SPGC), (the “Company” or “Sacks Parente”), a technology-forward golf company with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related accessories, reports its financial results for the quarter ended June 30, 2023, and provides a business update. Recent Corporate Highlights Closed Initial Public Offering (IPO) transaction in mid-August that raised $11.6 million in proceeds, net of underwriting feesIntroduced the Innovative Series 91 “The Duke” putter inspired by PGA TOUR Champions player Ken DukeKen Duke won his first PGA TOUR Champions title at the Shaw Charity Classic using a Sacks Parente Series 66 Anser-style putter Timothy Triplett, Sacks Parente Golf’s Chief Executive Officer, commented, “Our recent IPO represents a new beginning for Sacks Parente, as the capital raised will help us to expand our product offerings beyond cutting-edge putters and into cutting-edge shafts, and further penetrate the rapidly growing Asian golf markets. The IPO proceeds also allowed us to repay nearly $1 million in debt to become a debt-free company. “The revenue generated in the first half of 2023 was before our recent IPO. We continue to develop as a company as we carefully hone what we believe to be a superior line of golf technology for professional and weekend golfers alike. We look forward to communicating with our stockholders and future customers about our entire line of products and to demonstrating significant shareholder value.” About Sacks Parente Golf Sacks Parente Golf, Inc. is a technology-forward golf company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products. The Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design while pioneering ultra-light carbon fiber putter shafts. In consideration of its growth opportunities in shaft technologies, in April of 2022 the Company expanded its manufacturing business to include advanced premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all...